Variable rate home loans

For some of us, having a home loan that adapts with changing circumstances is paramount. Our variable rate home loan gives you flexibility plus a range of convenient features to help you save by repaying your loan faster.

Rocket Home Loan

Rocket Home Loan is our most popular variable rate loan. It's a full-featured loan that suits first homebuyers, investors and refinancers. It works by linking your variable home loan to a Westpac Choice transaction account. This means you reduce your daily home loan interest charges by offsetting every dollar left in your Choice account against the amount left on your loan.

Ways you benefit with a Rocket Home Loan

Special limited time offer. Discount of up to 0.95% p.a. with the Premier Advantage Package with a Westpac Choice Transaction Account.#2 See rates tab for specific discounts.

Discount of up to 1% p.a. with the Premier Advantage Package with a Westpac Choice Transaction Account. See rates tab for specific discounts.

You could cut years off your loan with 100% home loan offset. Every dollar in your linked transaction account saves you interest.

You save on standard fees when you choose the Premier Advantage Package. An annual
package fee of $395 applies.

Fee

Standard loan

Under Premier Advantage Package

Low doc loan under Premier Advantage Package

Loan Establishment fee

$600 (one upfront fee)

NIL

$355

Loan maintenance fee

$8 per month

NIL

NIL

Other fees and charges apply.

For a limited time, receive up to

the standard variable home loan rate, when you take out a new eligible loan in combination with our Choice account and Premier Advantage Package*. Enjoy the full discount on loans of $750,000 or more, or receive a 0.9% p.a. discount on new loans between $250,000 - $749,999 or a 0.7% p.a. discount on new loans between $150,000 - $249,999. Loans must be conditionally approved between 03/02/14 and 01/05/15.

Special rate discounts only available on standard variable rate on Rocket Repay Home, Rocket Investment Property and Equity Access Loans which are conditionally approved by 1 May 2015. You must either hold or be approved for a Westpac Choice Transaction account in order to qualify and continue to receive the benefits of the PAP. Before deciding to acquire a Westpac Choice account, consider whether it is appropriate for you. You should read the Terms and Conditions before making a decision. Special rate discount includes standard PAP discount of: 0.7% p.a. for full doc loans of $250,000 or more and 0.4% p.a. for full doc loans between $150,000 and $249,999 and 0.7% p.a. for Low doc loans of $500,000 or more and 0.5% p.a. for low doc loans between $250,000 and $499,999. Low doc loans below $249,999 receive the 0.3% p.a. standard low doc PAP discount. PAP Conditions of Use apply and are available at westpac.com.au/. Discounts do not apply to internal refinances and are not transferable between loans.